Victory Square Technologies Announces Filing of Preliminary Short-Form Prospectus in Connection with Previously Announced Private Placement of Special Warrants
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE: VST) (OTC: VSQTF) (FWB: 6F6) is pleased to announce that, further to its press releases dated October 20, 2020, October 26, 2020, and November 9, 2020, it has filed a preliminary short form prospectus (the “Prospectus”) with the securities commissions in the Provinces of British Columbia, Alberta and Ontario (the “Qualifying Jurisdictions”), in connection with its previously announced private placement of 11,713,053 special warrants of the Company (the “Special Warrants”). A copy of the Prospectus is available under Victory Square’s profile on SEDAR at www.sedar.com.
The Prospectus was filed in connection with the anticipated distribution of 11,713,053 common shares of the Company (the “Unit Shares”) and 5,856,526 common share purchase warrants of the Company (the “Unit Warrants”) issuable upon the exercise or deemed exercise of Special Warrants. Each Unit Warrant will entitle the holder thereof to purchase an additional common share of the Company at a price of $0.78 per share until November 9, 2023. The Special Warrants were issued on November 9, 2020, at a price of $0.52 per Special Warrant to purchasers in each of the Qualifying Jurisdictions and certain other jurisdictions pursuant to an agency agreement dated November 9, 2020 entered into between the Company and Gravitas Securities Inc.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Prospectus is currently being reviewed by the British Columbia Securities Commission and has not yet become final for the purpose of the distribution. There can be no assurance that a receipt for the Company’s final prospectus will be issued.
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.